You must be paying attention to the history currently unfolding in crypto-currencies. In only 2 weeks, the total market capitalization of all crypto-currencies has jumped 50%!!

Many have heard of Bitcoin, but are unaware of the hundreds of other digital currencies like it. These currencies are traded on exchanges just like currencies of the world’s various central banks. As there is the dollar, euro, yuan, ruble, pound, etc. There is also Bitcoin, Ethereum, Monero, Litecoin, Ripple, GlobalBoost, etc. However, these digital currencies are more like a commodity in the sense that there is a finite amount available, scarcity. Career politicians just can’t go and create more of them by the push of a button, but they are mined by various ‘computers’ through an algorithmic blockchain….and there is a set amount to be mined.

Market Capitalization of Crypto-Currencies

In this case, Market Capitalization can be understood as the total value, or total amount of dollars making up the shares of the crypto-currencies.

On December 4, 2013, there was $15.7 billion in Bitcoin and the other altcoins. On June 17, 2016, that high was tested and peaked at $14.9 billion before pulling back. Again, on December 22, 2016, the resistance was tested at $15.6 billion, and once broken, the market capitalization skyrocketed nearly 50% in just 2 weeks. As of January 5, 2017, there is $21.7 billion in crypto-currencies.

This is truly an amazing event unfolding before our eyes. Think of any stock or any other central bank currency….to grow 50% in 2 weeks, after living below an all-time resistance, is remarkable.

Bitcoin

It was only a week ago when we published Bitcoin and Gold in 2017 | $10,000 Bitcoin is Coming. At the time, the price of Bitcoin was $959. As of this writing, it is now $1,164. That is a 21% rise in only 1 week! (also, in that article, an immediate $78 move higher in gold was referenced, and gold has risen $34 since.)

If you have not already, it is time to get at least some Bitcoin. Of course, we can’t know when the next regulation will come, trying to stifle the rise of Bitcoin. That $7 billion dollars added to crypto-currency market cap in the last 2 weeks can evaporate as quickly as it came, testing the old resistance as new support. Or, this move higher could still be in it’s beginning stages. In 2013, the price of Bitcoin rose 450% in only 1 month. If a similar move in unfolding, it’s not yet finished. Keeping an eye on the action from China will help this time around.